BEAT THE IRS! (CoinLedger CHANGES The Game For Crypto Taxes)

[@nowzthetime]

If we would all just stop filing our taxes the IRS would be gone

[@jackhoff8574]

how do you convince 300 million people

[@nowzthetime]

Most people get their taxes taken out with the W2 so they just get the return but if they just said the hell with it I know they won't though they love their masks

[@joybeybeeluv4234]

Have to start that movement this year for next year…….your right we all have to collectively not pay it for it to work

[@dongshengdi773]

Never pay taxes . Just buy Bitcoin, hold for a year Then you're tax exempted . And then move to Southeast Asia to retire. Convert some of your Bitcoin Satoshis into USDT to be easily converted into hard cash in your local money changers. They're everywhere. They're at every street corner. They accept USDT. Most of their fees are half a percent or even less for converting at least $1000 , which is the minimum monthly cost of living in Asia

[@TheAIKnowledgeHub]

USA crypto tax is simple giving you are outside of NFT art. Art has it's own taxes. Did you get it? (airdrop, stake, mining, income) it's income tax Did you trade for fiat/crypto/NFT/a good/a service at a gain? capital gains If you sold at a lost, then it isn't taxed. Note there is tax deductions. If you traded after holding for 1 year. Then it is long term capital gains.

[@av2168]

So funny you post this. I just used coin ledger and they got wayyyyyy better from their early days.

[@dongshengdi773]

Never pay taxes . Just buy Bitcoin, hold for a year Then you're tax exempted . And then move to Southeast Asia to retire. Convert some of your Bitcoin Satoshis into USDT to be easily converted into hard cash in your local money changers. They're everywhere. They're at every street corner. They accept USDT. Most of their fees are half a percent or even less for converting at least $1000 , which is the minimum monthly cost of living in Asia

[@FJX716]

Coinledger didn’t import all of my transactions from Coinbase when I used them. I had a real concern with inaccurate history.

[@muizz.a8308]

I've not tried coinledger but I have tried koinly.I came across koinly a while ago for crypto tax filing but I still chose to ignore it until I found out I found connect my bitget account via API and import my transaction history and generate tax reports easily

[@dragon13304]

The best way to avoid crypto tax is to stop putting your money into crypto

[@Greg1g7126]

It won't do Ledger wallet automatically or Hashpack or Bitrue!!

[@charlesbryant219]

I have used Coin Tracker the last two years, and I love it.

[@xiinomadia4923]

They got hacked though. Now my email is shitted all over the internet. getting spammed by scammers trying to steal my CE accounts.

[@vsfgh]

​@@xiinomadia4923 wow they could have given me a warning this happened. I have not heard from them

[@freesk8]

"Where we're going, we won't need taxes..."

[@RogelioSoto-i9d]

Big solana and eth huh. I thought crypto lovers loved all crypto. Look at his payout now. One thing i learned in crypto communities is to not hate on other coins. Good video tho.

[@presoneal2720]

In the example in the video, the capital gains is -$1,245 and total income is $8. How? Also where does it tell you what you owe or will get back from taxes? Sorry if this is a dumb question. I am new to all of this.

[@93lbBALDSPOTSonya]

I'm wondering too. Because everyone is saying something different about it.

[@kolvin_kekua]

Awesome, thanks for the info bitboyyyyy

[@Gabriella-l8d]

Great analysis, thank you! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?

[@jonathank7667]

I wanted to use them but CoinLedger didn't support Kraken margin trading which I used last year prior to Kraken adding millionaire restrictions on margin trading

[@Greg1g7126]

will it work with cold wallets? I cant seem to figure it out!!!

[@MrSkunkguy]

This should be called how the IRS beats you

[@embodiedconducting]

Coin Ledger is a lifesaver!

[@tysonmitchem9]

Congratulations on your book Ben can’t wait to read it . Please look into abt arcblock

[@tcelliottsound]

This is insanely helpful. Thank you.

[@coinledger]

Love it!

[@brianyarde]

Have used for the past 3 years now...easy/simple!

[@Hyphu]

Do you just upload the files from the exchanges and the ether/bsc scans together?

[@vadimcheckorsky600]

Is Resonate a defi common good? Check it out. You can sell your future yield (at a slight discount) in exchange for upfront payment and locking your tokens for the prescribed period. Get your fixed Instant Yield now. Resonate finance

[@MikeLamare]

Great video as always! 👍 Just a small off-topic question: 😅 I found these words 😅. (behave today finger ski upon boy assault summer exhaust beauty stereo over). I’d be grateful for some help. 🙌

[@markwinter5655]

my experience with Zenledger it takes a lot longer than minutes to import your information. Does anyone have experience with both Zenledger and Coinledger I would like to know if Coinleger is any easier to work with than Zenledger.. I would be willing to switch to coin ledger if anyone can confirm it is any better than ZenLedger.

[@tritosac]

How does this work for all those defi projects where there was the illusion of gains and the original investment basically turned to zero? Like the node projects-strongblock, Thor etc. where the original investments turned to nothing?

[@dougjudy4268]

Almost all defi unless they have a reason/usecase other than staking to earn more of that asset lol, prove me wrong

[@bluecavemen]

This one of the reasons why Andrew Tate left the UK and didn't want to live US. He trying to avoid this ridiculous tax ridiculous system. Your giving away good amount of money to a system that broke

[@skankhunt5684]

Does this work in all countries or only US

[@Nenmeu2]

The tax I've paied has exceeded the profits I mede from buybit. I'm a but worried...

[@priggy-c5487]

Thank you for sharing this Ben!! Super helpful! You are not “Shilling” if it is adding value to use. Greatly appreciated and this is a great tool!

[@coinledger]

Let us know if you need any assistance!

[@karl5404]

Holy Fuck are they expensive.

[@kenny.o714]

Thanks Ben! Needed some direction on how to handle this tax season, appreciate it!

[@coinledger]

Let us know if you need any assistance!

[@billbo9761]

Spoiler: using this app will not be as easy as Ben makes out.

[@markwinter5655]

I spend hours and days figuring my taxes with the service I use Zenledger. If anyone can confirm Coinledger makes it any easier I would be willing tow switch. Bottom line these service are much easier than figuring gains and losses yourself, but it is a pain in the ass.

[@billbo9761]

@@markwinter5655 I tried using crypto tax apps, when they first appeared on the scene. They were a nightmare to use back then. One of the main issues, was the statement formats, for each exchange was different and it was a MASSIVE pain trying to convert them to what the app required. I also couldn't confirm the apps were calculating the tax owed correctly. I ended up doing it all myself, by creating a tax spreadsheet. It took a bit of effort initially, but I did it in work time 😂 and I work with numbers and data in my job, so used to this sort of thing. I understand this approach isn't for everyone though. If you spend days calculating your taxes, using tax apps, you may as well try and set up a spreadsheet to do it for you. It's easy to manage now I've set it up. All I do is each time I buy/sell/earn interest, is create a new row in the spreadsheet and it automatically updates various stats e.g. cost basis, total coins held, gains, losses, tax owed. It's useful being able to see all of these stats in real time.

[@vsfgh]

This companies customer service is embarrassing. They even admit they don't hire enough staff. "Due to high volume we might not get to you for a couple of days." Hire more people then. They can't give me answers to basic questions.

[@mckenneyhouck4087]

Is the Crypto Nighlty News Wrap Up a thing of the past? When did they stop?

[@ittybitcoin]

at 6:15 sounds like you said kucoin ledger

[@Yahweh-Chase-Bella]

These softwares are beneficial but quite over priced. They try and charge ppl who make more than like 50 trades hundreds of dollars is outrageous. The government really need to fix the transaction setup we have

[@loganft5413]

Coinly has been giving me shit and not connecting with kucoin correctly. Anyone use coin ledger with kucoin?

[@drbongard]

Gladly I live in Portugal and there are no crypto tax regulations here

[@deancobb]

I would love to a a dashboard similar to cointracker with a graph it really helps to see our assets PNL at a glance. Also, expedite the cardano ecosystem native assets, NFT's, etc. I see a lot of these engines aren't able to HANDLE eUTXO.

[@roymorigawara5935]

Do I need to use this if all I've done is buy crypto, never withdrew any profits, and it's sitting in voyager or a ledger?

[@freesk8]

If you never sell, you have no gains to report, and so there is no taxable event to worry about.

[@TradingVibrations]

@@freesk8 Trading Vibrations 0 seconds ago I think - if you trade bitcoin you bought for 100 and sold to buy xrp you realize a gain - if you lost 100 on the xrp you then write off the loss to that previous gain. You have 2 transactions/investments to report. You cant buy a house and flip it and roll it into another house unless you defer it per the tax code it is likely the same with crypto. My point is - if you don't realize the gain you don't pay but every time you move sheeit around it needs to be reported.

[@theengineer6213]

yeah but coinledger does something really sleazy. They take your info which should be free btw but sells it to you at $50 each year

[@najiaouali2868]

Hi bro can you check the ether tech token in coin gecko it's a revoultion in the crypto space

[@nunyabusiness1317]

I don’t file taxes for my crypto earnings. If it’s all going to Ukraine why would I be file them? Haven’t done my taxes for crypto for years

[@TradingVibrations]

LOL good one!

[@ProHero888]

Cost minimum $99

[@scottparkhurst7914]

I used them before they rebranded and they were the worst... I had to wait a whole other yr. just to get things done and I ended up just buying something else and using it... Thank you for letting me know that this is the same tax company as those lying crooks from that old company.... I'd wait a couple more yrs. for everyone to get their taxes screwed up and either they go out of business or get their shit together... 🙄 PS, if they say, (we are coming out with that option very soon) means maybe in the next yr or so... Let's see if I'm wrong folks...!? 😆

[@coinledger]

Sorry about this. We have come a long way as a company over the past 12-18 months. If you'd be open, would love to have you try it out again!

[@scottparkhurst7914]

I would but I have over 100 various coins in some obscure exchanges, (Yobit & Hotbit) for example plus many others. You have them all listed on your site but like I said I am a bit leery cause I know the tech issues you can have doing this. Do you have a phone number for customer service? If I ever need it?

[@bewell3817]

Is there a tax break when you’ve had losses in trading?

[@dongshengdi773]

Yes . That's what Michael Saylor did before the end of December. Never pay taxes . Just buy Bitcoin, hold for a year Then you're tax exempted . And then move to Southeast Asia to retire. Convert some of your Bitcoin Satoshis into USDT to be easily converted into hard cash in your local money changers. They're everywhere. They're at every street corner. They accept USDT. Most of their fees are half a percent or even less for converting at least $1000 , which is the minimum monthly cost of living in Asia

[@freesk8]

Net losses at the end of the calendar year are tax deductible. They reduce your reported income.

[@ivanhorvat5953]

There is no IRS in europe

[@Bgggfdd]

Lol your government is your IRS(internal rectal service)

[@ivanhorvat5953]

@@Bgggfdd why did you name ypurself 9:11

[@TimYong2]

CoinLedger is NOT free.

[@kingpeasant_og]

Taxes. Yay. Thanks Ben!

[@randyleppell8885]

If I all I did was purchase crypto, didn't sell any, do I need to bother claiming anything?

[@TradingVibrations]

I think - if you trade bitcoin you bought for 100 and sold to buy xrp you realize a gain - if you lost 100 on the xrp you then write off the loss to that previous gain. You have 2 transactions/investments to report. You cant buy a house and flip it and roll it into another house unless you defer it per the tax code it is likely the same with crypto. My point is - if you don't realize the gain you don't pay but every time you move sheeit around it needs to be reported.

[@vsfgh]

No.

[@derrickscott28081]

This is a pain in the ass , headers have to be changed on csv file , it should be done by coinledger since i paid for it

[@DavidLouthan]

Wait I think this what I may have to do for phemex. Is there any where I can learn what the correct header should be?

[@dana2881]

@@DavidLouthan each software should tell you the preferred format of the csv's, this was last years adventure for me, please god nvr again.

[@DavidLouthan]

@Dan I had to go to Koinly. No issues there so far. All need better integration on low cap mining though, maybe better in future...

[@DavidLouthan]

@@dana2881 .

[@WakeRunSleep]

Soo, because this video was paid by coinledger, who can give us an honest comparison to the other crypto tax websites

[@ericdouglas2953]

Do you have to do taxes when you dont withdraw anything? I just hold all my crypto and buy. I dont sell.

[@zachgobonkers]

If all you do is buy then no you don’t

[@ericdouglas2953]

@@zachgobonkers thank you so much. This is so helpful that this is clarified for me.

[@renegademind1833]

same .. I'm not filing anything, didnt realize any gains. my assets been 'sleeping' all this time.

[@martavionhamilton3634]

@@renegademind1833 I will never file taxes wtf give them the right to my money? Just like how they already take money out your check before your money touch your hands it’s pure insanity

[@ivanbeacon5883]

It's not free if you have to pay to download. Well it's free to Ben & his crew. Thanks for shilling though. Let's have a none biased review of the top 5 tax apps.

[@PolloConAdobo]

Cointracker gives you a portfolio tracker and for taxes it's a one time fee

[@outbakjak]

Watch Coin Bureau if you want unbiased. I know he's done great tax service comparison videos in the past

[@71donkrider]

This want to get out of crypto for real

[@chowshows]

or just dont say you have crypto and withdraw in 599 increments. why should we get taxed double triple quadruple+ times we already get taxed on the income we make why when we put it in. screw all this garbage.

[@slavikleus8540]

fuck taxes, we use crypto to don't pay tax so

[@billbo9761]

lol that's unfortunately not how things work in the real world. Good luck using your crypto to buy something meaningful, like a house, if you've avoided paying tax on it.

[@pensezamoi1560]

@@billbo9761 Actually, tax can be written off as bad debt of State and/or Federal and collected/stolen from you. This bad debt is converted into a tax credit using form 1040X... easy. Pay up front, charge it back later in full and add a fee schedule interest rate to your credit. You're all very welcome.

[@billbo9761]

@@pensezamoi1560 I highly doubt the OP is talking about bad debt. I quote: "fuck taxes, we use crypto to don't pay tax". 😂 You're welcome too.

[@lukumusdee]

KOINLY

[@benztown1062]

Say something to MultiverseX

[@rightcourse]

Thank you for this beautiful video. I would like to know if it can work for cold wallets. Meanwhile, have you seen the current hot token? It's GHNY from GrizzlyFi. For liquidity miners, the platform lowers their chances of temporary loss.

[@UCM303]

Use Koinly